MGP Ingredients Inc (MGPI) was Initiated by Craig Hallum to “Buy” and the brokerage firm has set the Price Target at $42. Craig Hallum advised their investors in a research report released on May 25, 2016.
MGP Ingredients Inc opened for trading at $26.72 and hit $27.34 on the upside on Friday, eventually ending the session at $26.93, with a gain of 1.47% or 0.39 points. The heightened volatility saw the trading volume jump to 71,282 shares. Company has a market cap of $449,381 M.
In a different news, on Mar 16, 2016, John P Bridendall (director) purchased 5,000 shares at $21.95 per share price. According to the SEC, on Dec 21, 2015, Augustus C. Griffin (CEO) purchased 3,000 shares at $24.14 per share price. On Dec 9, 2015, Stephen J Glaser (Vice President) sold 44 shares at $22.48 per share price, according to the Form-4 filing with the securities and exchange commission.
MGP Ingredients Inc. is a holding company with no operations of its own. The Company’s principal directly-owned operating subsidiaries are MGPI Processing Inc. and MGPI of Indiana LLC (MGPI-I). The Company through its subsidiaries produces distillery and ingredient products which are derived from corn rye and barley and wheat flour primarily to serve the packaged goods industry. The Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol along with fuel grade alcohol distillers feed and corn oil which are co-products of its distillery operations. Ingredient solutions segment consist of specialty starches and proteins commodity starch and vital wheat gluten (commodity protein).